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Shares of Vodafone Idea advanced over 3 per cent in Thursday’s afternoon trade after reports suggested that the telecom player is in talks with several groups regarding funding.
The scrip traded 3.59 per cent higher at Rs 9.53 at around 12.45 pm (IST), while the benchmark BSE Sensex traded almost flat at 44,173.
“Oaktree, Varde have said to offer Vodafone Idea at least $2 billion in funding,” ET NOW reported quoting agencies.
Vodafone Idea recently reported significant narrowing of losses to about Rs 7,218 crore for the September quarter from the year-ago period, and said signs of recovery were visible in Q2FY21 with gradual improvement in economic activities.
VIL’s losses in the Q2FY20 had been Rs 50,921.9 crore, after it provisioned for Supreme Court mandated statutory dues.
The gross revenue for quarter ended September 30, 2020, came in at about Rs 10,791 crore, marginally lower than same period previous year. It was, however, 1.2 per cent higher when compared sequentially.
The scrip traded 3.59 per cent higher at Rs 9.53 at around 12.45 pm (IST), while the benchmark BSE Sensex traded almost flat at 44,173.
“Oaktree, Varde have said to offer Vodafone Idea at least $2 billion in funding,” ET NOW reported quoting agencies.
Vodafone Idea recently reported significant narrowing of losses to about Rs 7,218 crore for the September quarter from the year-ago period, and said signs of recovery were visible in Q2FY21 with gradual improvement in economic activities.
VIL’s losses in the Q2FY20 had been Rs 50,921.9 crore, after it provisioned for Supreme Court mandated statutory dues.
The gross revenue for quarter ended September 30, 2020, came in at about Rs 10,791 crore, marginally lower than same period previous year. It was, however, 1.2 per cent higher when compared sequentially.
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